Our 501(c)(3) organization is about to receive three houses from a Charitable Remainder Trust now that the donors establishing the trust have both died. We already have a buyer for all three houses. How should we record the distribution from the trust? Is it an in-kind gift? Or is it an unrestricted gift (nothing in the CRT restricts the use of houses)?
December 16, 2012 - January 15, 2013
December 16, 2012 to January 15, 2013
Court allows beneficiary to sue to recover gift given without authority
Trustee’s fees equaling 30% of income were not unforeseen by donor, it says
College successfully asserts defenses of lack of standing and statute of limitations
To the Point
Lessons from Litigation